RSS News
Business News
| Wall Street's early rally fades, Nasdaq briefly drops |  NEW YORK (Reuters) - Stocks' early rally faded on Tuesday with the Nasdaq briefly dipping into negative territory and investors citing risks to the global economic outlook. The Dow Jones industrial average was up 25.43 points, or 0.20 percent, at 12,529.91. The Standard & Poor's 500 Index was up 5.75 points, or 0.44 percent, at 1,321.74. The Nasdaq Composite Index was up 3.69 points, or 0.13 percent, at 2,850.90, after briefly slipping into negative territory. The Nasdaq touched a session low of 2,843.62, down from Monday's close at 2,847.21. ...
| | SEC head says Facebook IPO issues should be reviewed | | WASHINGTON (Reuters) - The top securities regulator said on Tuesday that the problems surrounding Facebook's initial public offering should be reviewed, but those issues should not shake investor confidence in the markets. "I think there is a lot of reason to have confidence in our markets and in the integrity of how they operate, but there are issues that we need to look at specifically with respect to Facebook," Securities and Exchange Commission Chairman Mary Schapiro told reporters as she exited a Senate Banking Committee hearing. ... | | Home resales rise, boding well for economy |  WASHINGTON (Reuters) - Home resales rose in April to their highest annual rate in nearly two years and a falloff in foreclosures pushed prices higher, hopeful signs for the country's economic recovery. The National Association of Realtors said on Tuesday that existing home sales increased 3.4 percent to an annual rate of 4.62 million units last month, the highest since May 2010. "The housing market is showing some signs of life," said Gary Thayer, a macro strategist at Wells Fargo Advisors in St. Louis. Nationwide, the median price for a home resale jumped to $177,400 in April, up 10. ...
| | SEC looking at JPMorgan financial reporting |  WASHINGTON (Reuters) - The Securities and Exchange Commission will look into the "appropriateness and completeness" of JPMorgan Chase & Co's financial reporting, SEC Chairman Mary Schapiro told the Senate Banking Committee on Tuesday. Earlier this month, JPMorgan said it had lost at least $2 billion - a figure that's expected to grow - on trades tied to credit derivatives. Schapiro said her agency's probe will focus on the accuracy of the company's first-quarter financial and earnings statements. ...
| | Facebook drops again as pressure to perform mounts |  (Reuters) - Facebook's shares fell again on Tuesday, leaving them down nearly one-third from Friday's highs as questions mounted over the company's financial prospects and its ability to grow fast enough to meet the hype surrounding its stock. After Friday's nearly flat close and Monday's 11 percent plunge, the stock tumbled again Tuesday -- 4.2 percent to $32.60 in the first 90 minutes of trading. That was a decline of 28 percent from Friday's high of $45, but well off its lows of the morning. Volume was again massive, with more than 45 million shares traded as of around 11 a.m. ...
|
|
| 
